Sunday, June 20, 2010

House Minority Whip Eric Cantor (R-VA) has often expressed concern for how Obama administration policies are supposedly a “grave danger to America’s prosperity.” Now, the Wall Street Journal finds that Cantor actually invests in an exchange-traded fund that “takes a short position in long-dated government bonds” — effectively betting against the U.S. Treasury bonds that the government uses to fund its operations:

[Cantor], the Republican whip in the House of Representatives, bought up to $15,000 in shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, according to his 2009 financial disclosure statement. The exchange-traded fund takes a short position in long-dated government bonds. In effect, it is a bet against U.S. government bonds — and perhaps on inflation in the future.

If Cantor truly cares about “America’s prosperity,” one would have to wonder why he is literally betting against its financial future. The Washington Independent’s Annie Lowrey adds that “Cantor is not a very canny investor. The fund is down 31 percent this year.”

moon

About

This blog has become a place where I post articles that I find related to global warming - causes and effects, as well as a few other topics - related or not.

Jellyfish are like poster-boys of global warming changes - jellyfish are one species of animal that are doing very well. The increased acidity of the oceans, warmer waters, the decrease in predators as fish and other wildlife decline have all favored jellyfish. They seem to thrive on the fertilizers that people have been washing into the seas. Most animals do not.

I also like to post discoveries - especially discoveries that are being made out in space as people are able to see farther and farther galaxies and nebulas and supernovas. Even though I don't think that people will ever go live any of those places - I just like knowing that they are out there. It's part of keeping in mind that the earth and it's inhabitants are such a small part of what is going on in the universe.

I have another blog with posts on art and artists - it's called M'S IMPRESSIONS.